Najib Points At Dr M S Era Forex Scandal After Judge S Remark In Src Verdict

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Former premier Najib Abdul Razak has dismissed Court of Appeal judge Abdul Karim Abdul Jalil's assessment that his actions in the SRC International case were not national service but a "national embarrassment".
Najib said if anything was a national embarrassment, it would be the forex scandal in the 1990s, which involved his archnemesis Dr Mahathir Mohamad.
"I am very disappointed with that (assessment). Throughout my career, I've always been focused on how to promote national interests.
"During my tenure as prime minister, as an example, the country's total assets under my watch grew from RM800 billion to RM2 trillion. I created a lot of wealth for the country.
"If you talk about national embarrassments... there are other scandalous issues for example the scandal surrounding forex which led to a loss of about RM31 billion... isn't that a more colossal national embarrassment?" Najib said during a virtual press conference.
During the forex scandal, Bank Negara suffered losses amounting to RM31.5 billion between 1992 and 1994, according to a Royal Commission of Inquiry into the matter.

 The RCI - which was set up during Najib's tenure as PM - found that Mahathir was in part responsible for the losses.

Najib pointed out that despite the findings, the forex case had been classified as "no further action" (NFA) during the Mahathir-led Pakatan Harapan government's time in office.
"A loss of RM31 billion was classified as NFA. Just to put it into proper perspective," Najib said.
Earlier today the Court of Appeal upheld Najib's conviction over the RM42 million SRC International case.
In delivering the court's judgment, judge Abdul Karim said that Najib had acted for his own personal benefit.
"This is manifested by the flow of the RM42 million from SRC into his personal accounts.
"This is not something that can be said to have been done in the national interest.
"There is no national interest here, just a national embarrassment," the judge said.
Najib said he was very disappointed by today's ruling and will appeal at the Federal Court.


"The central issue with regards to the SRC International case was the RM42 million (allegedly) transferred into my personal bank account. As a Muslim, I reiterate that I didn't know, nor did I ask for it, neither did I direct anyone for the RM42 million to be transferred into my account," he said.
Meanwhile, Muhammad Shafee Abdullah, Najib's lead defence counsel who joined the virtual presser criticised Court of Appeal for describing Najib as a national embarrassment.
"You can say our defence of national interest did not succeed, that the end. But to go further and say it was a national embarrassment is unnecessary because it can cause some serious element of perception on my client," he said.
"A court judgement can have content effect and it is not supposed to have sound effect," he said.
When asked if the defence team and Najib can do anything on Karim's judgement, Shafee said if the Federal Court accept and rule in favour of Najib in his appeal, this part of the judgement could be expunged.

Shafee added that the defence filed an appeal to the Federal Court this afternoon. - Mkini

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